Hey, It’s All Right: You’re Allowed to Screw Up

The enemy of perfect may be “good enough” but often the enemy of progress is perfection.   This spring I met an aspiring entrepreneur who asked for a private meeting to discuss his business idea.  He emphasized “private” so I assumed that he wanted to discuss something related to his government-funded research, so I took all of the appropriate security precautions and scheduled the meeting.  

How to Get an “A” in Entrepreneurship

It is amazing to me that my children are already back in school.  The slower pace of summer has been replaced with early morning rides to classes, last-minute trips to the store to obtain critical school supplies and urgent requests for assistance with homework.  Fortunately my work with some successful entrepreneurs has given me some great strategies for dealing with the challenges of back to school. 

All Praise the Entrepreneurial Bee

I have recently become a beekeeper.  More precisely, I have used my carpentry skills and have built a bee box.  By the end of summer I hope to have my first honey harvest while limiting the number of stings in the process.

Making Sense of It All Isn’t Easy

I recently hosted a group of repeat offenders (entrepreneurs with more than one successful startup) to openly discuss how they start companies.  My secondary motive was to promote Department of Energy lab technologies as a viable source of startup “kindling,” or as one of our invitees called it, the “technical muse.”  What emerged from the discussions were concrete recommendations on services that the lab and lab partners could provide that would allow for a freer flow of research into the entrepreneurial muse. 

The Lost Art of Bootstrapping

What is keeping you from starting a company right now?  For most of us the answer is money.  If only someone would pay us to start a company, we just know that we could make it a success.  The problem is that most successful companies don’t begin with financing; they begin with uncompensated work and personal investment.  No matter how unique, world-changing or innovative you think your idea may be, the idea holds no real value to anyone but you.  Value is created in your idea as it moves toward a place where someone can buy it or pay you for the benefit it brings.

The Entrepreneur as Splendid Physical Speciman?

In recent years I have become very aware of the strong correlation between entrepreneurial and athletic endurance.  Many of the serial entrepreneurs with whom I have had the privilege of working seem to share three common characteristics: confidence, tenacity and fitness.  And the more I observed their success the more I have become convinced that they are interrelated. 

It’s All About Community

A vibrant entrepreneurial ecosystem includes the development of capital, talent (entrepreneurs), ideas and community.  These pillars do not exist independently.  There are interdependencies amongt them, especially between entrepreneurs and their communities.  In a recent paper, The Character of Innovative Places: Entrepreneurial Strategy, Economic Development and Prosperity, Maryann P.

Whom Do You Trust?

Recently I was asked to help a founder of a failed company with his postmortem analysis of his venture-backed startup.   It was a deeply painful process for him as he had spent three years of his life building a company that cost him his marriage, his savings and, he believed, his reputation. 

Needed: a Market Assessment Specialist

You are brilliant.  You are an inventor, an innovator, a technical genius.  But without the right team the world will never benefit from your work.  So with whom should you team to bring your invention to the marketplace? Your first advisor may be the most critical to your success and the most difficult to find. 

Success—One Failure at a Time

Entrepreneurs truly are wired differently and therefore don’t get invited back as panelists.  I recently atttended a conference on commercializing laboratory technologies.  The usual pundit classes were represented: Ph.Ds, tech transfer professionals, investors and a solitary entrepreneur. 

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